If you’re like most entrepreneurs, you are used to figuring out how to do everything yourself, which is commendable. You’ve had to work hard to get where you are today, and have probably ventured outside your comfort zone a dozen or more times just to get your business up and running. Because of all this, you probably started your business with the assumption that you could handle the day-to-day aspects of your business, including bookkeeping. But if you’re starting to feel more like you’re drowning than thriving when it comes to paying bills, keeping tax information straight, getting payroll out correctly and on time, and generally handling your accounts, it may be time to hire an virtual bookkeeper.
Here are 7 reasons hiring a virtual bookkeeper can help:
1. It’s not your expertise
You wouldn’t trust your business to someone who lacked the proper credentials to run it, just like you shouldn’t trust yourself to handle bookkeeping when that’s not your area of expertise. A professional bookkeeper knows the best ways to take care of your b business’s money and has the experience to prove it.
2. You’ll save money
Sometimes in business it costs money to save money. Hiring a bookkeeper can cost you upfront, but you will end up saving money in the long run. For instance, you are more likely to make mistakes that cost your business time and money when you attempt a DIY approach to bookkeeping.
3. Increase credibility
A bookkeeper will make sure that bills are paid on time and for the right amounts, which makes your business more credible for your customers. Nothing screams “I don’t know what I’m doing!” more than paying bills late, especially if you’re doing so consistently.
4. Stay organized
A bookkeeper will have one job for your business, and will therefore keep everything related to bookkeeping organized and easily accessible. No more scrambling through the filing cabinet or huge stack of papers on your desk to find invoices or bills. A virtual bookkeeper takes organization one step further by keeping everything online, no bulky filing cabinets required.
You might not thank yourself now, but when tax season rolls around you will want to go back in time to give yourself a gigantic hug for saving you a huge amount of tax filing work. A bookkeeper will be able to keep tax information separate from other information, and your virtual bookkeeping means that everything will be in one digital location that you can easily access when it’s time to file.
6. Save time
That old cliche “time is money” really is true when it comes to business, and the time you waste trying to do your own bookkeeping is really money down the drain. Spend your time building your client base, training employees, and doing what you actually want to do–run your business!
7. Only hire for what the services you need
Bookkeepers can help you with a lot of areas of your business including managing your credit cards, payroll, accounts receivable, sales tax, accounts payable, and business bank reconciliations. When you outsource your bookkeeping, you only pay for the services you need. And you can add or drop services as your business grows and changes.
Bookkeeping is one of the most crucial aspects of running a business, but too often small business owners make the mistake of doing it alone. You can save time, increase your credibility, and get back to running your business. For more information on how our bookkeeping services can benefit your business, contact us today!
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